First open ended mutual fund NIBL Sahabhagita Fund opens from today
June 2, 2019 | Investopaper
The first open-ended mutual fund of Nepal operated by the private sector is set to come into operation. NIBL Sahabhagita Fund is going to issue 5 crore units at the par value of Rs. 10 from today (Jestha 19,2076). The total worth of the scheme is Rs. 50 crores and at the first stage, it will be issuing 1.25 crore unit shares worth Rs. 12.5 crores to the general public.
The closing date of the issue is Jestha 22, 2076 and if the issue is not fully subscribed the issue can be extended to Asadh 3, 2076. Applications can be placed for a minimum of 100 units to a maximum of 2,50,000 units. If you are interested, then you can apply through any financial institutions providing C-ASBA facilities.
Securities Board of Nepal (SEBON) has provided approval for the issuance of the open-ended scheme on Baisakh 9, 2076.
NIBL Ace Capital is the issue manager for NIBL Sahabhagita Fund.
An open-ended mutual fund can issue and redeem the shares at any time. Shares are bought and sold on demand at their NAV. Interested investors can purchase or sell the shares in the fund directly from the fund. There is no need to purchase from existing shareholders.
The shares of an open-ended fund are priced daily based on their day to day Net Asset Value (NAV).
